Intel Co. (NASDAQ:INTC) – Wedbush lifted their Q3 2019 earnings estimates for Intel in a research report issued to clients and investors on Friday, July 26th, Zacks Investment Research reports. Wedbush analyst M. Bryson now expects that the chip maker will earn $1.21 per share for the quarter, up from their previous forecast of $1.12. Wedbush has a “Underperform” rating and a $42.90 price target on the stock. Wedbush also issued estimates for Intel’s Q4 2019 earnings at $1.14 EPS, FY2019 earnings at $4.29 EPS, Q1 2020 earnings at $0.90 EPS, Q2 2020 earnings at $0.95 EPS, Q3 2020 earnings at $1.18 EPS, Q4 2020 earnings at $1.23 EPS, FY2020 earnings at $4.26 EPS, Q1 2021 earnings at $0.89 EPS and FY2021 earnings at $4.24 EPS.
Other research analysts have also recently issued research reports about the company. Mizuho lifted their target price on Intel from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Atlantic Securities started coverage on Intel in a research report on Monday, July 22nd. They issued an “underweight” rating and a $38.00 target price on the stock. Bank of America decreased their target price on Intel from $62.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Robert W. Baird lifted their target price on Intel from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co decreased their target price on Intel from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. Intel has an average rating of “Hold” and a consensus target price of $54.31.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Intel’s revenue for the quarter was down 2.7% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, August 6th. Intel’s payout ratio is presently 27.51%.
In related news, Director Frank D. Yeary sold 2,509 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.92, for a total value of $127,758.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 8,552 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total value of $400,062.56. Following the completion of the sale, the executive vice president now owns 68,833 shares in the company, valued at $3,220,007.74. The disclosure for this sale can be found here. Insiders sold 36,524 shares of company stock worth $1,844,221 over the last quarter. 0.02% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of INTC. Tributary Capital Management LLC acquired a new position in Intel in the fourth quarter valued at approximately $28,000. Ogorek Anthony Joseph NY ADV raised its position in shares of Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after purchasing an additional 500 shares during the period. Global Trust Asset Management LLC raised its position in shares of Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after purchasing an additional 2,442 shares during the period. Virtus ETF Advisers LLC acquired a new position in shares of Intel during the fourth quarter worth approximately $48,000. Finally, Next Capital Management LLC acquired a new position in shares of Intel during the second quarter worth approximately $48,000. 66.50% of the stock is currently owned by hedge funds and other institutional investors.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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